A firm recently completed its fiscal year (financial statements below) and is modeling the upcoming year to plan for needed external financing (EF) based on the following assumptions Sales are expected to increase by 2596 The firm plans to pay 5500,000 in dividends next year. What amount of new assets will be needed in the upcoming year? Balance Sheet Income Statement Current Assets $2,500,000 Current Laibilities Sales Net Fixed Assets $1.500,000 Long-Term Debt Cost of Goods Sold $1,500,000 $1,500,000 $1,000,000 $4,000,000 Net Worth Gross Profit $7.500.000 $4,500,000 $3,000,000 $1,950,000 $425.250 5624,750 Total $4,000,000 Total Operating Expenses Taxes Net Profit NEF= X Total Assets/Sales Change in Sales Current Liabilities/Sales X Change in Sales Sales * Net Profit Margin